Dar Masr compound is considered one of the major projects in the Egyptian market; it introduces a new level of quality lifestyle and provides contemporary housing units with various areas starting from 100 M² to 150 M².
About The Developer
The Urban Communities Authority is considered one of the major economic entities in Egypt; it aims to develop urban communities, locating new cities and housing projects, and preparing plans and strategies, as well as ensuring the quality of work and public facilities management.
It also provides a wide range of residential lands for individuals and companies, as well as projects that target young and low-income people, such as the Mubarak Housing Project, Future Society Housing, Free Housing, and Dar Misr.
Architectural Design and Style
Dar Masr compound is considered one of the major projects in the Egyptian market; it introduces a new level of quality lifestyle and provides contemporary housing units with various areas starting from 100 M² to 150 M². The buildings in the project consist of ground and five floors; each floor contains four residential units. Furthermore, each building is provided with its own services and facilities including, elevators and garages.
Compound Details
Dar Misr project is one of the best projects in which the Ministry of Housing has excelled and received a large turnout from citizens since its implementation at the end of 2014, to meet the ambitions of middle-income young people to own an appropriate unit with specifications and finishing distinct areas of 100 M²: 150 M², throughout several stages.
In addition to that, the project is an integrated-services compound, where you can find a mosque, a school, shopping malls, healthcare, and many other services.
Units and Prices
The units prices start from EGP 7,400 per meter.
Project Stages
Dar Misr project provides around 150,000 residential units; the project is implemented in four phases as follow:
- The First Phase: come in November 2014, with 30.000 residential units in 8 new cities: 6th of October, New Cairo, Al-Shorouk, Al-Obour, Badr, 10th of Ramadan, New Damietta, and Sadat City, all with different designs and styles. All units come fully-finished with various areas ranging from 100 M² to 150 M².
- As for The Second Phase: in September 2015, the Urban Communities Authority offered 25.000 residential units with areas ranging from 100 M² to 150 M², in 12 new cities: 6th of October, Sheikh Zayed, New Cairo, Al-Shorouk, Al-Obour, Badr, 10th of Ramadan, New Damietta, Sadat, New Minya, New Borg El Arab, and 15th of May City.
Until the implementation rate in El Obour City reaches 81% out of 816 residential units, which is considered the highest rate among all cities. However, the Ministry of Housing has recently announced that it has completed the implementation of 120 new units, i.e. “5 buildings” with codes “112-412”, location 2 with numbers“16-17 – 18 – 22-27 “ all are counted from the first stage of the project.
Payment Facilities of Dar Misr
The First System: The Real Estate Financing System
It means to pay 20% of the total unit value and the rest to be paid over up to 20 years. The applicant can benefit from the initiative of the central bank up to an amount of EGP 500.000.
The Second System: The Five-year System
The applicant can obtain his unit in installments for up to five years without interest, and to pay only 20% of the total value.
Terms and Conditions
- The applicant must be Egyptian.
- He must be at least 21 years old.
- No reservation is allowed in more than one city.
- The family, “husband, wife and minor children”, is also not entitled to apply for more than one unit reservation.
* Please note that the prices in the Egyptian market are constantly changing, so you can check the updated prices continuously by visiting Aqarmap updating list of all neighborhoods, also you can see the measurement rate of buying and selling in Aqarmap index.